All policies of insurance shall be effective the moment a purchaser takes delivery of the property insured, or loan transaction is consummated. Policies or certificates of insurance must be written for the full term for which a premium is charged the purchaser or borrower, in connection with the financing of a purchase, or effecting of a loan.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 627.413 FS. History-Repromulgated 12-24-74, Formerly 4-4.13, 4-4.013, 4-184.014.